P&E Capital is the investment office for the Piilmann family. Our primary goal is to preserve and grow our capital base over the long term. We engage in a broad range of investment activities across various asset classes and geographies.

Pecapital

Direct Investments

Real Assets

P&E Capital is one of the largest commercial real estate investors in the Baltic countries. Together with our long-term co-investors and partners we seek to invest in properties with significant scale, development potential and complexity. Our current portfolio consists of some 100 000 m2 of prime commercial real estate with substantial further development potential. We also invest in forest and land assets.

 

Iconic retail centre situated in central Tallinn with Stockmann department store and Medicum medical centre as anchor tenants.

  • Investment year: 2021
  • GLA: 25 000 m2
  • P&E Capital interest: 39%

 

Telliskivi TLN is a multipurpose business, leisure and cultural centre located next to the Tallinn central train station between Kalamaja district and Old Town.

  • Investment year: 2002
  • GLA: 25 000 m2
  • P&E Capital interest: 65%

 

Retail and leisure centre located next to Riga's Rail Baltica terminal, central market and bus station with Stockmann department store and Forum Cinemas as anchor tenants.

  • Investment year: 2022
  • GLA: 25 000 m2
  • P&E Capital interest: 39%

 

Iconic office building situated at the Tallinn Freedom Square with Tallinn City as anchor tenant.

  • Investment year: 2001
  • GLA: 25 000 m2
  • P&E Capital interest: 39%

 

Strategically located at the intersection of two of Tallinn's major roads, Pärnu maantee and Järvevana tee, the office building boasts convenient parking and counts Töötukassa, Catwees and Swedbank as anchor tenants.

  • Investment year: 2011
  • GLA: 11 400 m2
  • P&E Capital interest: 65%

toosikannu

 

Toosikannu combines a truly unique wildlife park spanning over ca. 1,000 hectares of pristine forest with a state-of-the-art holiday and conference resort.

Energy & Industrials

We have a long track record of investing in energy and industrial assets ranging from fuel distribution, energy infrastructure, oil shale mining and refining as well as renewable energy generation. Today, we continue investing into industrial and energy assets, mainly through our portfolio company Viru Keemia Grupp.

 

We hold a 39% interest in VKG, one of the leading industrial and energy groups in Estonia. VKG employs 1500 people and was founded in 1924.

 

Cleantech business focused on developing and distributing building-integrated solar roofs.

Healthcare

We also seek direct investments in the broader healthcare universe and are particularly focused on partnering with strong management teams on developing opportunities with favourable long-term subsector dynamics.

 

P&E Capital worked closely with and backed Edgecap Partners' acquisition of a majority stake in Comac Medical, a leading full service clinical research organisation in Southeast Europe. Edgecap Partners is Tallinn- and London-based mid-market private equity and growth capital firm targeting investments into high-quality companies in Europe.

 

Founded in 2022, Padelstar is one of the leading padel operators in the Baltic countries.

Our People

Kristjan Piilmann

Kristjan Piilmann

Kristjan is responsible for our investment strategy.

Kersti Ojala

Kersti Ojala

Kersti manages the daily activities of P&E Foundation.

Ave Peekmann

Ave Peekmann

Ave is responsible for our finance and accounting function.

Eve Piilmann

Eve Piilmann

Eve provides patronage and looks after P&E Foundation.

Alo Kippasto

Alo Kippasto

Looks after our real estate projects & property management.

Priit Seeman

Priit Seeman

Priit looks after many of our investments.

Tuuliki Tammearu

Tuuliki Tammearu

Tuuliki looks after our people.

Philanthropy fund

P&E Foundation

P&E Foundation is a non-profit organization established in 2022 by the Piilmann family to support healthy living initiatives in Estonia. We seek to enable projects by providing grants for funding the missing investment cost of impactful initiatives, primarily in the areas of healthcare and environment. Additionally, we support project execution by involving experts and support from our network.

 

For inquiries and project recommendations, please contact Kersti Ojala: kojala@pecapital.eu.

Estonian Cancer Society

Donation of €1 000 000 to Estonian Cancer Society for the purchase of a mobile CT scan. The mobile office enables to carry out lung cancer screenings and detect cancer foci at a very early stage when the treatment is most effective.

Time of donation: March 2024

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